Swiss Franc Heads Toward 1.2500

by
Sam Shenker

A sustained momentum on the part of the Swissie bulls will most likely see the pair stall around 1.2240, a level established by the September 5 daily high, and with subsequent reversal targeting the 1.2500 figure. Indicators are favoring the Swiss Franc longs with both negative momentum indicator and MACD below the zero line, with ADX above 25 at 32.34, signaling an existence of a trend, not a direction of one, while oversold Stochastic adds to a trending outlook.

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